Is lease the right stuff for you?
February 2nd, 2010 by carla_guillermoIn getting your dream car, financial decisions are very important. Aside from asking yourself the quality and characteristics of your desired vehicle, take the buying options and capabilities in mind. If you don’t put much mileage per year or maybe just below 15,000 on your car or your usual trips are just short, then you would benefit more with lease than a loan. If you opt to change brands of car more often and you value new car warranty that much, then go for a lease.
If you want to drive the latest car models than own them, lease would be good. But if you want to do some car modifications, then go for a loan. Lastly, if you have a strong credit history you will have no problem getting a lease instead of having financial bruises that may get loan as an alternative.
Basics: Lease
January 30th, 2010 by carla_guillermoBy all means, lease is similar to rent but with a longer term. In the end of a car lease for example, you return the leased car. Aside from the upfront payment, you will give monthly payments for using the car and you need to maintain it. On the agreement, there is a limit on miles to cover and you will pay for any additional. You will also need to pay for any damages you may caused the car or repair it.
The advantage of having a car lease will be paying a lower monthly payment for a great car. Before doing so, further check the benefits, mechanics and possible complications. Generally, lease payments depend on the capitalized cost of the car, the residual value and the amount the vehicle will depreciate when you use it. Some websites offer special calculators like Purchase vs. Lease Calculator that will allow you to compare the two methods.